The OSC and Non-GAAP Measures

question 89

Essay

The OSC and non-GAAP measures
In an effort to curb to potential confusion created by non-GAAP earnings discussed in Exercise 4-111, the OSC has issued a staff notice on these disclosures. Briefly explain what this notice states issuers should do. Why do you think the OSC is particularly interested in streamlining these disclosures?

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Definitions:

Primary Root

The initial root that develops from a germinating seed, giving rise to the root system of a plant.

Hemicellulose

A polysaccharide found in plant cell walls alongside cellulose, providing structural support.

Cellulose

A complex carbohydrate composed of glucose units that form the main constituent of the cell wall in most plants, providing structural support.

Soluble

Capable of being dissolved in a solvent, typically water, to form a solution.